Oireachtas Joint and Select Committees

Thursday, 6 October 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Rising Costs of Motor Insurance: Discussion (Resumed)

10:00 am

Dr. Cyril Roux:

Consumers going to companies that are pricing well below break-even are now Setanta consumers. This is not protection. The claims have to be paid and they are paid by premiums. As long as the claims are €1.3 billion, premiums will have to be €1.3 billion or more.

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